US-based online learning platform developer Brainly completed an $80m series D round yesterday featuring Prosus Ventures, the corporate venturing arm of media and e-commrece group Naspers.
Learn Capital led the round, which was also backed by fellow venture capital firms Runa Capital and General Catalyst as well as VC fund Manta Ray. The company said it has now raised approximately $150m since it was founded in Poland in 2009.
Formerly known as Zadane, Brainly runs an online platform that allows students to connect with each other and qualified experts to solve homework and other academic problems.
The company has 350 million monthly users worldwide and will put the funding toward product development in addition to growth in Brazil and Indonesia.
Prosus Ventures predecessor Naspers Ventures joined Kulczyk Investments and existing investors General Catalyst, Point Nine Capital and Runa Capital in Brainly’s series B round, which closed at $29m in 2017. Naspers led its $30m series C round in July 2019, investing with Runa Capital and Manta Ray.
Michał Borkowski, Brainly’s co-founder and chief executive, said: “Today, Brainly is the de facto resource for students and parents seeking help with homework from their peers and experts.
“While Brainly has demonstrated a high rate of growth for years, over the past six months, we have achieved growth milestones that we had projected to hit over the next few years. We receive immensely positive feedback from students, parents and teachers using Brainly, so there are no signs of this growth slowing down anytime soon.”
